Methodological approaches to the assessing of the quality of audit sampling

© 2014, Mediterranean Journal of Social Sciences. All right reserved. The main objective of this study is to develop methodology of assessing the quality of the audit sampling. The use of the sampling leads to existence of the risks when an auditor's conclusion, made on the basis of a total sample may be different from the conclusion drawn on the basis of the audit procedures carried out in respect of all population elements. To solve this problem we have created the theoretical model, illustrating the following: the relationship between the audit risk and the methods of the unit’s selection; the relationship between the efficiency of the audit, evaluation of internal control and audit scope; the use of sampling in the audit for internal control testing and substantive procedures

Methodological approaches to the assessing of the quality of audit sampling

© 2014, Mediterranean Journal of Social Sciences. All right reserved. The main objective of this study is to develop methodology of assessing the quality of the audit sampling. The use of the sampling leads to existence of the risks when an auditor's conclusion, made on the basis of a total sample may be different from the conclusion drawn on the basis of the audit procedures carried out in respect of all population elements. To solve this problem we have created the theoretical model, illustrating the following: the relationship between the audit risk and the methods of the unit’s selection; the relationship between the efficiency of the audit, evaluation of internal control and audit scope; the use of sampling in the audit for internal control testing and substantive procedures

Methodological approaches to the assessing of the quality of audit sampling

© 2014, Mediterranean Journal of Social Sciences. All right reserved. The main objective of this study is to develop methodology of assessing the quality of the audit sampling. The use of the sampling leads to existence of the risks when an auditor's conclusion, made on the basis of a total sample may be different from the conclusion drawn on the basis of the audit procedures carried out in respect of all population elements. To solve this problem we have created the theoretical model, illustrating the following: the relationship between the audit risk and the methods of the unit’s selection; the relationship between the efficiency of the audit, evaluation of internal control and audit scope; the use of sampling in the audit for internal control testing and substantive procedures

Methodological approaches to the assessing of the quality of audit sampling

© 2014, Mediterranean Journal of Social Sciences. All right reserved. The main objective of this study is to develop methodology of assessing the quality of the audit sampling. The use of the sampling leads to existence of the risks when an auditor's conclusion, made on the basis of a total sample may be different from the conclusion drawn on the basis of the audit procedures carried out in respect of all population elements. To solve this problem we have created the theoretical model, illustrating the following: the relationship between the audit risk and the methods of the unit’s selection; the relationship between the efficiency of the audit, evaluation of internal control and audit scope; the use of sampling in the audit for internal control testing and substantive procedures

Internal fraud as a threat to the liquidity of a commercial organization

© 2019, Research Trend. All rights reserved. This study carried out an empirical analysis of the impact of liquidity and its main components on the market value of the largest domestic companies in various industries and regions. We analyzed complex reports of companies from different industries and countries and used 200 observations for 2013-2017. For the purposes of our research, we put forward the following hypotheses: Hypothesis 1: The efficiency of using the working capital of the organization, which includes indicators on the basis of which the level of liquidity is calculated, positively affects its value. Hypothesis 2: the liquidity level of the organization positively affects its value. It is assumed that the higher the value of the organization's liquidity ratio, the higher its value. Both our hypotheses have been confirmed. The obtained results make it possible to conclude that a qualitatively conducted audit in the organization provides reliable financial indicators that can guide the adoption of key financial decisions

Internal fraud as a threat to the liquidity of a commercial organization

© 2019, Research Trend. All rights reserved. This study carried out an empirical analysis of the impact of liquidity and its main components on the market value of the largest domestic companies in various industries and regions. We analyzed complex reports of companies from different industries and countries and used 200 observations for 2013-2017. For the purposes of our research, we put forward the following hypotheses: Hypothesis 1: The efficiency of using the working capital of the organization, which includes indicators on the basis of which the level of liquidity is calculated, positively affects its value. Hypothesis 2: the liquidity level of the organization positively affects its value. It is assumed that the higher the value of the organization's liquidity ratio, the higher its value. Both our hypotheses have been confirmed. The obtained results make it possible to conclude that a qualitatively conducted audit in the organization provides reliable financial indicators that can guide the adoption of key financial decisions

Market capitalization modeling of petrochemical enterprises on the basis of multifactorial regression models

© 2019, Research Trend. All rights reserved. Nowadays, the literature deals in detail with the analysis of the financial condition and the assessment of the company market value. However, the majority of authors consider these concepts separately, which does not allow making effective analytical decisions during the analysis of a company investment attractiveness. The article develops multifactor regression models that allow to obtain a quantitative assessment of closeness degree concerning the relationship between the indicators of company financial stability, profitability, turnover, liquidity and market value. The authors consider the company value as an integral indicator that can be used instead of an extensive set of financial ratios during the company financial position evaluation. Based on the econometric analysis of data from Russian petrochemical enterprises that meet the criteria of profitability, financial stability and maturity, the article draws conclusions about the possibility of practical application of the proposed models. In order to develop an empirical base of research, the data were collected on annual accounting (financial) statements for Russian companies in the petrochemical industry [2, 5]. The time interval from 2013 to 2018 was chosen for the analysis. A balanced sample of 16 enterprises was compiled. In order to perform in-depth analysis based on empirical data, we formulated and tested the following hypotheses. Hypothesis 1: The market value of a company has a significant relationship with profitability indicators. Hypothesis 2: Solvency indicators, which include current, intermediate and absolute liquidity ratios, have a positive effect on company capitalization. Hypothesis 3: The market value of a company has a significant relationship with financial stability indicators. Hypothesis 4: With turnover rate increase, the growth of the company capitalization is ensured. Hypothesis 5: The market value of a company has a significant relationship with the economic value added. Hypothesis 6. The market capitalization is influenced by external environment indicators such as the dollar rate, refinancing rate (the key rate since 2016), the price of Brent crude oil, the inflation rate and the industrial production index. According to the results of the performed analysis, not all hypotheses were confirmed. So, the influence of external factors, as well as solvency and turnover indicators on the company value turned out to be insignificant

Aspects of operational audit in the system of financial management

© 2019, Institute of Advanced Scientific Research, Inc.. All rights reserved. This article reflects a study of the quantitative characteristics of financial management problems in order to identify their relationship and the likelihood of a synergistic effect. The basis was the stratification of the totality of financial management problems proposed by domestic scientists. Developing research in this direction, an objectively substantiated hierarchy of the totality of the problems under consideration is proposed. This justified the assumption that there is a synergistic effect of the consequences of financial management problems. The possibility of using the operational audit as a methodological tool for further identifying and identifying financial management problems is theoretically substantiated, which suggests the identification of new management methods based on the control potential of an operational audit. It is known that one of the most important components of the essence of operational audit is the assessment of the effectiveness of management decisions. The main problem is the lack of criteria for assessing this effectiveness. Operational audit is seen in this context as one of the most realistic tools. The application of its aspects is presented on an example from the field of financial flow management. Having determined a preliminary calculation of effectiveness as a part of a strategic decision, expressed as a change in specific indicators, it is proposed to use it as a criterion for evaluating the effectiveness of a managerial decision

Market capitalization modeling of petrochemical enterprises on the basis of multifactorial regression models

© 2019, Research Trend. All rights reserved. Nowadays, the literature deals in detail with the analysis of the financial condition and the assessment of the company market value. However, the majority of authors consider these concepts separately, which does not allow making effective analytical decisions during the analysis of a company investment attractiveness. The article develops multifactor regression models that allow to obtain a quantitative assessment of closeness degree concerning the relationship between the indicators of company financial stability, profitability, turnover, liquidity and market value. The authors consider the company value as an integral indicator that can be used instead of an extensive set of financial ratios during the company financial position evaluation. Based on the econometric analysis of data from Russian petrochemical enterprises that meet the criteria of profitability, financial stability and maturity, the article draws conclusions about the possibility of practical application of the proposed models. In order to develop an empirical base of research, the data were collected on annual accounting (financial) statements for Russian companies in the petrochemical industry [2, 5]. The time interval from 2013 to 2018 was chosen for the analysis. A balanced sample of 16 enterprises was compiled. In order to perform in-depth analysis based on empirical data, we formulated and tested the following hypotheses. Hypothesis 1: The market value of a company has a significant relationship with profitability indicators. Hypothesis 2: Solvency indicators, which include current, intermediate and absolute liquidity ratios, have a positive effect on company capitalization. Hypothesis 3: The market value of a company has a significant relationship with financial stability indicators. Hypothesis 4: With turnover rate increase, the growth of the company capitalization is ensured. Hypothesis 5: The market value of a company has a significant relationship with the economic value added. Hypothesis 6. The market capitalization is influenced by external environment indicators such as the dollar rate, refinancing rate (the key rate since 2016), the price of Brent crude oil, the inflation rate and the industrial production index. According to the results of the performed analysis, not all hypotheses were confirmed. So, the influence of external factors, as well as solvency and turnover indicators on the company value turned out to be insignificant

The general model’s mass management of marketing in the system of information processing of a project

Проведен анализ существующих маркетинговых схем, необходимых для создания системы обработки информации на прединвестиционной фазе проекта. Предложена обобщенная модель управления массовым маркетингом в рамках системы обработки информации проекта.Проведено аналіз існуючих маркетингових схем, що необхідні для створення системи обробки інформації на передінвестиційної фазі проекту.The analysis of exist marketing's schemes required for making an information processing system on the preinvestment phase of project is conducted